Latin American Herald Tribune: A ship considered key to the financial restructuring of Mexican oil services firm Oceanografia, which the government seized last year after it allegedly defrauded U.S. financial giant Citigroup’s local unit out of hundreds of millions of dollars, has gone missing, a judge said.
“The vessel Caballo Maya has been taken from its place of storage, and its whereabouts is unknown,” Mexico City-based federal Judge Felipe Consuelo, who is presiding over Ciudad del Carmen, Mexico-based Oceanografia’s bankruptcy proceedings, said Thursday. Read more.
The MexicoBlog of the CIP Americas Program monitors and analyzes international press on Mexico with a focus on the US-backed War on Drugs in Mexico and the struggle in Mexico to strengthen the rule of law, justice and protection of human rights. Relevant political developments in both countries are also covered.
Showing posts with label Mexican oil production. Show all posts
Showing posts with label Mexican oil production. Show all posts
Aug 24, 2015
Jul 20, 2015
The good oil boys club
Peak Oil: It should have been a day of high excitement. A public auction on July 15th marked the end of a 77-year monopoly on oil exploration and production by Pemex, Mexico’s state-owned oil company, and ushered in a new era of foreign investment in Mexican oil that until a few years ago was considered unimaginable.
The Mexican government had hoped that its first-ever auction of shallow-water exploration blocks in the Gulf of Mexico would successfully launch the modernisation of its energy industry. In the run-up to the bidding, Mexico had sought to be as accommodating as its historic dislike for foreign oil companies allowed it to be. Juan Carlos Zepeda, head of the National Hydrocarbons Commission, the regulator, had put a premium on transparency, saying there was “zero room” for favouritism. Read more.
The Mexican government had hoped that its first-ever auction of shallow-water exploration blocks in the Gulf of Mexico would successfully launch the modernisation of its energy industry. In the run-up to the bidding, Mexico had sought to be as accommodating as its historic dislike for foreign oil companies allowed it to be. Juan Carlos Zepeda, head of the National Hydrocarbons Commission, the regulator, had put a premium on transparency, saying there was “zero room” for favouritism. Read more.
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